The former Lincoln City chief, who will be joined at the John Smith’s Stadium by his younger brother Nicky, will be unveiled to the press this morning.
The dramatic developments came less than a week after Cowley revealed that he had rejected the overtures of Town after a compensation fee had been agreed with the Red Imps.
This came after the League One club gave Huddersfield permission to talk to the 40-year-old, who said at the time that the White Rose club ‘were not the right choice’ for him.
But a change of heart has seen him head to West Yorkshire.
In a statement on the Lincoln website, Cowley said: “Nicky and I have a burning ambition to challenge ourselves at the highest possible level.
“We do not know if an opportunity as good as this one will come around again and we never want to live with regret.
“To everyone associated with Lincoln City Football Club, this without doubt, (is) the hardest decision of our lives that Nicky and I have had to make.
“We know that many people may not understand, but we feel the least we can do is offer you an explanation.
“The past three and a half years have been so unbelievably special. It has simply been a fairy tale for Nicky and I.”
Meanwhile, Huddersfield chairman Phil Hodgkinson has revealed his delight after the Cowley brothers elected to take over at the club after their earlier rejection – and stressed that the pair always being the club’s ‘number one’ choice to take over.
Town were also strongly linked with the likes of Lee Bowyer and former Hull City and Sheffield United chief Nigel Adkins in their quest to find a replacement for Jan Siewert, sacked on August 16.
Hodgkinson said: “Our persistence paid off and when we spoke, there was an obvious chemistry. They believe in the way we operate as a club and it affirmed that they would be a superb fit for us.”
“Our research, due diligence and work resulted in a shortlist of four candidates, and Danny Cowley was number one.
“His track record is there for all to see – he has led his previous teams to five promotions and several cup successes – and our character references revealed a man who is one of the most detailed managers around; meticulous in his preparation, and highly regarded by his peers.
“Having approached Lincoln and gained permission to speak to the Cowleys, they initially decided they wanted to continue the superb job they had done at that club and turned down the opportunity to discuss our job.
“At that stage we could have easily pursued one of the other options we had identified – all of which are fine managers – but David (Webb – head of football operations) and I felt it was important to try and persuade them to talk to us.
“We firmly believed that they were the best men to take us forward, and we did not want to give up on them.”